Avnet (NYSE:AVT) is set to release its earnings data before the market opens on Wednesday, January 24th. Analysts expect Avnet to post earnings of $0.72 per share for the quarter. Avnet has set its Q2 guidance at $0.67-0.77 EPS and its FY18 guidance at $3.10-3.60 EPS.

Avnet (NYSE:AVT) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. Avnet had a net margin of 2.86% and a return on equity of 8.20%. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Avnet’s revenue was up 13.2% compared to the same quarter last year. On average, analysts expect Avnet to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of Avnet (NYSE:AVT) opened at $43.28 on Monday. Avnet has a one year low of $35.67 and a one year high of $48.20. The stock has a market cap of $5,233.72, a PE ratio of 10.79, a P/E/G ratio of 1.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 2.78.

Avnet announced that its Board of Directors has initiated a stock repurchase plan on Friday, November 10th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Several brokerages recently issued reports on AVT. ValuEngine raised shares of Avnet from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Longbow Research raised shares of Avnet from a “neutral” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus upped their price objective on shares of Avnet from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Goldman Sachs Group raised shares of Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price objective for the company in a research note on Friday, January 5th. Finally, TheStreet raised shares of Avnet from a “c” rating to a “b-” rating in a research note on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.57.

In other news, CEO Amelio J. William bought 3,000 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were bought at an average cost of $39.16 per share, for a total transaction of $117,480.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.65% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Avnet (AVT) Set to Announce Quarterly Earnings on Wednesday” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.thecerbatgem.com/2018/01/22/avnet-avt-set-to-announce-quarterly-earnings-on-wednesday.html.

Avnet Company Profile

Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.

Earnings History for Avnet (NYSE:AVT)

Receive News & Ratings for Avnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avnet and related companies with MarketBeat.com's FREE daily email newsletter.